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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 25, 2022
Jun. 26, 2021
Operating Activities:    
Net income $ 469,464 $ 537,025
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 58,986 48,776
Amortization 23,870 25,903
(Gain) loss on sale or disposal of property and equipment (1,666) 207
Unrealized foreign currency losses 21,217 12,205
Deferred income taxes (66,382) 5,560
Stock compensation expense 39,755 45,301
Realized loss (gain) on marketable securities 773 (374)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable, net of allowance for doubtful accounts 122,428 103,928
Inventories (294,766) (177,193)
Other current and non-current assets 775 (27,279)
Accounts payable (29,829) 44,144
Other current and non-current liabilities (74,273) (39,377)
Deferred revenue (4,246) (7,317)
Deferred costs 2,920 5,863
Income Taxes (3,550) 20,670
Net cash provided by operating activities 265,476 598,042
Investing activities:    
Purchases of property and equipment (134,798) (146,542)
Proceeds from sale of property and equipment 1,672 8
Purchase of intangible assets (887) (1,170)
Purchase of marketable securities (873,110) (755,360)
Redemption of marketable securities 620,796 720,937
Acquisitions, net of cash acquired (10,828) (15,893)
Net cash used in investing activities (397,155) (198,020)
Financing activities:    
Dividends (258,249) (233,860)
Proceeds from issuance of treasury stock related to equity awards 41,050 35,733
Purchase of treasury stock related to equity awards (14,722) (17,604)
Purchase of treasury stock under share repurchase plan (25,117) 0
Net cash used in financing activities (257,038) (215,731)
Effect of exchange rate changes on cash and cash equivalents (21,999) (2,819)
Net (decrease) increase in cash, cash equivalents, and restricted cash (410,716) 181,472
Cash, cash equivalents, and restricted cash at beginning of period 1,498,843 1,458,748
Cash, cash equivalents, and restricted cash at end of period $ 1,088,127 $ 1,640,220